The Essence of Hutt
William H. Hutt's outstanding accomplishment is his pathbreaking reconstruction of the macroeconomic analysis of price and resource allocation, the long-established core of neoclassical economics. He demonstrates its indisputable and abiding relevance to the macroeconomic problems of inflation, unemployment, and depression.
Why There Is No Free Lunch
No Free Lunch: Six Economic Lies You’ve Been Taught and Probably Believeby Caleb S. FullerFreiling Publishing, 2021. 110 pp. Caleb Fuller, an economist who teaches at Grove City College, thinks that many people have a mistaken conception of economics. It is,
The Fed’s Inflation Is behind the Supply Chain Mess
The idea that supply chain problems are “driving inflation” gets the causation backward. It’s money supply inflation that’s causing the supply chain problems, not the other way around. Original Article: "The Fed's Inflation Is behind the Supply Chain Mess" This Audio Mises
Thanks to Bailouts, Wall Street Banks Are More Fragile than Ever
The financial covid crash of 2020 came and went in a month as the US government threw every monetary and fiscal trick it had at the government-imposed flash panic. We’ll never know which malivestments would have been cleansed. We live on
The Tragedy of the Government’s Ban on Human Organ Sales
New tech shows some light at the end of the tunnel. But for decades, government bans on a market for human organs has condemned millions of people to early deaths and immense pain. Original Article: "The Tragedy of the Government's Ban
Why Bureaucrats Aren’t Like Private Sector Workers
Bureaucratic management means, under democracy, management in strict accordance with the law and the budget. It is not for the personnel of the administration and for the judges to inquire what should be done for the public welfare and how
Protectionism Is Immoral, Unjust, and Corrupt
If a businessman pulls a gun on a customer and demands 20 percent more for a product, that is robbery. If a politician intervenes to the same effect, it is fair trade. Original Article: "Protectionism Is Immoral, Unjust, and Corrupt" This Audio
In a Free Economy, Prices Would be Going down, Not Up
Whenever politicians and media outlets discuss inflation, they invariably use the Consumer Price Index (CPI) as their measure. The CPI is only one of several price indices on top of the various measures of the money supply that underlie aggregate price changes.
The Problem with “Stakeholder Capitalism”
Writing in the Investment Monitor on March 18, 2021, Klaus Schwab, the founder of the World Economic Forum, was urging the replacement of the present economic system. According to Schwab, the present system is deficient, since it only benefits a small
A Strategy for the Austrian School
The weekend revolves around a discussion of strategy. Nearly 25 years ago, Professor Hans-Hermann Hoppe delivered his famous "What Must Be Done" speech on the pressing topic of how—and whether—to engage the state. Today his prescription for a bottom-up ideological